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The report indicates that the practice of online payment continues its inexorable growth, driven by fast growing E-Commerce. Recent improvements in security and convenience of payments are expected to spur further growth.

Several developments in recent months point to increased competition on global online and mobile payment markets: Visa, MasterCard and American Express have proposed a new security standard for online payments; startups such as SumUP and iZettle have introduced a payment service below the standard merchant fee; PayPal launched an improved application for its mobile wallet; and Google Wallet launched a physical prepaid card. Further, the virtual currency Bitcoin has been gaining increased attention of consumers, merchants, payment providers, and governments.

The report also indicates that consumers globally are showing interest in mobile payments: mobile device users surveyed say they plan to make future mobile payments, especially in emerging markets. Mobile payments are forecasted to reach over EUR 150 billion worldwide in 2013, with strong double-digit growth for the next four years. Growth of non-banking mobile payments is projected to be stronger than banking payments, but the latter will continue to dominate through 2014. Forecasts for NFC payments growth have been decreased due to lower than expected acceptance. Growth rates, however, are expected to take off after 2016.

Acceptance and modes of online and mobile payment vary by region.

In North America, mobile payment transactions are expected to reach almost EUR 30 billion in value in 2013, up by more than +50% from the previous year. However, mobile payments at point of sale in the USA grew less rapidly than expected, resulting in lower forecasts for mobile proximity payment, though triple-digit growth is still expected. In Canada, more than three quarters of online shoppers used credit card to pay for their purchases in 2013.

In Latin America, development of online payments is encouraged by increasing banking coverage and online shopping. Governmental regulations also are stimulating growth. In May 2013, the Brazilian government issued new regulations to facilitate mobile electronic payments. By far the most used payment method in B2C E-Commerce in 2012 in Brazil was credit card, followed by local banking method Boleto Bancario. In Argentina, about 10% of Internet users used mobile banking or mobile wallet. In Peru, mobile payment is regarded as a tool for financial inclusion, as mobile phone penetration is much higher than banking coverage. In Colombia, the value of online payment transactions is forecasted to grow by a double digit rate this year compared to 2012. Credit card penetration increased in Mexico in 2013, creating a potential for further development of online payments.

In Germany, invoice and PayPal were the two most preferred payment methods in B2C E-Commerce. Mobile payments are increasing with slightly above 10% of consumers using mobile payments in parking or ticketing terminals and POS at least once in 2012. In Austria and Switzerland, the majority of online shoppers used invoice to pay in online shops, with credit cards in second place.

In the UK, online shoppers are increasingly paying with debit cards, with online debit card spending overtaking that of credit card in 2012. Regarding mobile payments, around two thirds of consumers in the UK have not yet used it, but have heard of it, and slightly above 10% used it at least once. In France, three of the major banks cooperated to launch an online payment system Paylib in September 2013, an inter-bank alternative to PayPal. The potential of mobile payment in France is indicated in that several millions of NFC capable mobile devices are in use and over 100,000 retail stores had NFC terminals by September 2013. Credit card is expected to remain the dominant payment method in B2C E-Commerce in Italy through 2013. In the Netherlands, around three quarters of online shoppers preferred to pay via a local online banking solution iDEAL in 2012. In Spain, several players launched mobile payment solutions, including NFC payments.

Online and mobile payment increased in Eastern Europe also. Online payments in Russia are close to reaching EUR 10 billion in 2013, growing by at double digit growth rates, though cash on delivery prevailed, used by over half of online Russian shoppers in 2013. Cash still dominates in Poland and Ukraine also, but online and mobile payment grows rapidly. Six major Polish banks cooperated in July 2013 to create a mobile POS payment system. In Estonia, credit cards were popular in domestic E-Commerce and debit cards in cross-border E-Commerce. In Turkey, in the first three quarters of 2013, the number of online payment transactions made with domestic cards reached a value of over EUR 10 billion and the number of mobile banking users doubled.

In Scandinavia, the most used payment method among online shoppers in Denmark in 2013 was Credit or Debit Card. In a sample month early this year the majority of online shoppers in Finland preferred direct payment through bank in B2C E-Commerce, while in Norway over half of online shoppers preferred to pay with credit or debit card and the payment method most preferred by online shoppers in Sweden was invoice.

Online payment is increasingly accepted throughout Asia. In China, authorities issued 250 licenses to third party online payment operators by July 2013, but international player PayPal was still waiting for one. The method most preferred by online shoppers was domestic third party online payment. The largest company on the market was Alipay, followed by Tenpay. In 2013, close to a third of mobile device users in China used mobile payments. In Japan and South Korea, the most used payment method in B2C E-Commerce was credit card. The payment method most preferred by online shoppers in India in 2013 was cash. In 2012, number of online banking users in Thailand reached over 5 millions. In Taiwan, financial regulators were working on legal framework for third party online payments, while banks gained permission to operate them. The mobile payments market in Taiwan is forecasted to grow annually by a double-digit rate between 2013 and 2017.

In Australia, in 2013, the share of credit cards, debit cards and specialized payment providers on online payments number reached almost a third, while the most used online payment method was online banking. Meanwhile, more than a half of individuals in New Zealand paid for E-Commerce purchases online last year.

In the Middle East, cash on delivery was by far the most used payment methods in B2C E-Commerce. Its share was forecasted to decrease by 2015, but still remain more than 50%.

In South Africa, cash was the most used payment method in B2C E-Commerce in July 2013, followed by mobile payment. In Uganda and Kenya mobile payment was dominant, while in Nigeria credit card was slightly more used than cash on delivery.

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